Yankees Rumors

The Yankees will have to make additions while sorting through several high-priced injury question marks on their roster as they try to rebound from consecutive years outside the postseason.

Guaranteed Contracts

• Masahiro Tanaka, SP: $133MM through 2020 (Tanaka can opt out after 2017)
• Jacoby Ellsbury, OF: $126.8MM through 2020 ($21MM club option for 2021, $5MM buyout)
• Brian McCann, C: $68MM through 2018 ($15MM club option for 2019, can vest to become player option)
• Alex Rodriguez, 3B: $61MM through 2017
• C.C. Sabathia, SP: $48MM through 2016 ($25MM vesting option for 2017, $5MM buyout otherwise)
• Brett Gardner, OF: $48MM through 2018 ($12.5MM club option for 2019, $2MM buyout)
• Mark Teixeira, 1B: $45MM through 2016
• Carlos Beltran, OF: $30MM through 2016
• Martin Prado, IF: $22MM through 2016
• Brendan Ryan, SS: $2MM through 2015 ($2MM club option for 2016, become $1MM player option if declined)

Arbitration Eligible Players (service time in parentheses; projections via Matt Swartz)

• Shawn Kelley, RP (5.128): $2.5MM projected salary
• Francisco Cervelli, C (4.146): $1.1MM
• Esmil Rogers, RP (4.087): $1.9MM
• Ivan Nova, SP (4.024): $3.3MM
• Michael Pineda, SP (3.099): $2.1MM
• David Huff, RP (3.062): $700K
• David Phelps, SP/RP (2.156): $1.3MM

Contract Options

• Andrew Bailey, RP: club option for 2015, dollar value unknown

Free Agents

• Chris Capuano, Stephen Drew, Chase Headley, Rich Hill, Hiroki Kuroda, Brandon McCarthy, David Robertson, Scott Sizemore, Ichiro Suzuki, Chris Young

The emotion of the Derek Jeter and Mariano Rivera retirement tours over the last two seasons may have softened the blow of missing the playoffs for Yankees fans.  Now that the last of the “Core Four” has retired, eyes are focused on the present and what the Steinbrenner family, the newly-extended Brian Cashman and a revamped baseball operations department will do to get this team back into contention.

When the Bombers missed the playoffs last year, they responded by spending over $500MM on new contracts for free agents and re-signed talent.  It doesn’t seem like the Yankees are prepared for another spending spree, in part because two of last year’s big signings (Brian McCann and Carlos Beltran) underperformed.  Combine those setbacks with a huge swath of injuries that sidelined almost the entire Yankees rotation, and it’s somewhat surprising that the club managed to win even 83 games.

The biggest issue facing the Yankees is that many of their highest-paid players can’t be counted on to stay healthy or play up to their usual standard in 2015.  C.C. Sabathia is returning from knee surgery and has already suffered a decline in performance in recent years.  Mark Teixeira managed to play in 123 games last year but his wrist problems will always require a backup option.  McCann and Beltran could’ve just had off-years, or they could possibly be on the decline as well.

And then there’s Alex Rodriguez, returning from his year-long suspension as a complete mystery in terms of what he’ll be able to contribute.  The plan for A-Rod seems to be a rotation between DH, third base and possibly first base, to spell Teixeira.  Until the Yankees know if Rodriguez can handle regular time at third, however, it will somewhat hamstring their other winter plans.  They have an interest in bringing back Chase Headley, though obviously Headley will want to play every day, and limiting Rodriguez to a 1B/DH role will cut down on the DH at-bats that might be needed for another aging players like Beltran or McCann.

One possible solution would be to pencil Martin Prado in as the third baseman and to acquire a stopgap option to play second or give prospect Rob Refsnyder a shot at the job.  If Rodriguez’s body can hold up under regular playing time at the hot corner, then Prado can then primarily play second base, with the occasional game at 3B to spell A-Rod.  Prado’s versatility is a nice tool for the Yankees to have, and since he posted an .877 OPS in 137 PA after joining the club at the trade deadline, his bat may have awoken after a rough first half with the Diamondbacks.

With Rodriguez likely looking at a healthy share of DH at-bats, Beltran will have to see much more time in right field than the 32 games he played at the position last season.  Beltran’s elbow injury both kept him out of RF and likely played a big role in his struggles at the plate, so if he’s healthy, he could be back to his usual productive self.  For depth’s sake, however, the Yankees will definitely look to add a backup outfielder who could regular playing time or at least would be Beltran’s late-inning defensive replacement.  Someone like Gerardo Parra (who the Brewers could non-tender or look to trade this winter) would be a nice fit in this role.

Replacing Jeter is impossible from a big-picture standpoint, though replacing Jeter’s 2014 on-field production (-0.3 fWAR, 73 wRC+) at shortstop shouldn’t be hard.  There will inevitably be a big media spotlight on whichever player becomes Jeter’s successor at short, and the Yankees have a couple of options: they can pursue a young shortstop as a true long-term heir apparent, or they could look for an established veteran (who might be more used to the pressure) to play the position for a few seasons until a younger option can be groomed or acquired.

If New York chooses the veteran route, there are free agent shortstops like Asdrubal Cabrera or Jed Lowrie available.  Hanley Ramirez is the top free agent shortstop on the market, though if the Yankees are indeed hesitant about giving big money to players over 30 years old, then a player with Ramirez’s injury history and defensive limitations wouldn’t be a good fit.  Stephen Drew could be re-signed at a relative discount price, though it’s hard to see the Yankees handing Drew the starting job coming off his poor 2014 season.  It’s possible the Yankees’ top choice to replace Jeter may already be off the board, as J.J. Hardy signed an extension with the Orioles rather than test free agency.

If the Yankees went for a younger option at short, they could talk trade with the Diamondbacks or Cubs, each of which have a surplus of young shortstops.  Chicago’s surplus, of course, is of a higher pedigree since it involves former All-Star Starlin Castro and blue chip prospects Addison Russell and Javier Baez.  As MLBTR’s Tim Dierkes wrote in his recent Cubs offseason outlook piece, however, the timing may not be right for the Cubs to trade their middle infield depth.  Plus, even if Chicago was willing to deal, the Yankees may not have the prospect depth to meet the enormous asking price the Cubs would demand for any of those players.  Swinging a deal for one of Arizona’s slightly lesser-regarded young shortstops (Didi Gregorius, Nick Ahmed, Chris Owings) could be a more palatable option.

The Yankees acquired Prado using one piece of their catching surplus in prospect Peter O’Brien, and the club still has John Ryan Murphy, Francisco Cervelli and Austin Romine all battling for the backup job behind McCann.  Any two of these players could be expendable with top prospect Gary Sanchez on the farm, though Sanchez has yet to play beyond the Double-A level and is at least a season away from getting serious consideration from a big league job.

The biggest trade chip the Yankees have, of course, is their financial might.  Headley, Prado and Brandon McCarthy were all acquired for a fairly negligible prospect return at midseason since New York was simply able to take those contracts off the Padres’ and Diamondbacks’ hands.  Rather than surrender draft picks to sign qualifying offer free agents or deal away what little farm depth they have, the Yankees could pursue more trades with rivals looking to create payroll space.

If the Yankees did want to make a splash in free agency, however, Jon Lester could be an attractive target since (due to the fact that he was traded at midseason) he can be signed without any draft pick compensation.  The Yankees have a particular admiration for Lester, according to CBS Sports’ Jon Heyman, and the southpaw would bring both quality and much-needed durability to New York’s rotation.  Max Scherzer could also draw interest from the Yankees this winter as another front-of-the-rotation upgrade, not to mention James Shields, who is expected to be available at a lower price than those other two aces.

While adding a top starter could technically give the Yankees a rotation surplus if everyone is healthy, that’s a giant “if” given how many injury-plagued starters are in the rotation.  C.C. Sabathia is returning from knee surgery and even if he’s 100 percent health-wise, the lefty has still been on the decline for the last two seasons.  Ivan Nova will be out until May at the earliest as he recovers from Tommy John surgery.  Michael Pineda looked dominant when he was on the mound, yet had another injury setback when he missed three months with a bad shoulder.

The most tenuous injury situation involves Masahiro Tanaka, who took MLB by storm in his rookie season before a slight UCL tear caused him to miss 10 weeks.  Tanaka returned to make two starts in late September and reported he was pain-free, so for now, it appears the righty may have dodged the Tommy John bullet.  Any recurrence of the injury, however, could lead to surgery for Tanaka and at least a year on the DL.  Tanaka is yet another high-paid superstar the Yankees don’t know if they can count on in 2015, and his uncertain health status is the club’s strongest argument for making a play for the likes of Scherzer, Lester or Shields.

Shane Greene’s strong rookie season earned him a spot in the 2015 rotation, so presuming that leaves New York with a tentative starting quartet of Tanaka, Greene, Pineda and Sabathia.  If the Yankees don’t land that ace-level pitcher, they could turn to familiar faces in McCarthy (who is open to a return) or Hiroki Kuroda, who is again weighing retirement or a return to Japan.

Kuroda faced the same choice last offseason and rejected a $14.1MM qualifying offer before re-signing with the Yankees on a one-year, $16MM deal.  It stands to reason that Kuroda will receive another QO this winter — if the Yankees were comfortable in issuing him a qualifying offer last year before knowing if he’d return to MLB, they’d probably feel similarly comfortable this year.  Kuroda still posted solid numbers and 199 IP at age 39 last season, and he’ll draw enough interest from teams that I’d suspect he’ll reject this offseason’s $15.3MM qualifying offer to look for another slightly-richer one-year pact.  It’s fair to assume the Yankees have the inside track on Kuroda’s services if he does return, though the Dodgers and Angels are also looking for starting pitching and can offer Kuroda a job closer to his home in southern California.

Dellin Betances’ phenomenal success as the Yankees’ setup man has led to speculation that he could take over as closer in 2015 and New York could afford to let David Robertson leave in free agency.  The Yankees are one of the few teams who can afford to issue a qualifying offer to a closer, and while it’s possible the QO could scare off some teams who don’t want to give up a first-round pick to sign a one-inning pitcher, MLBTR’s Steve Adams argued that Robertson’s status as the best closer available will still land him a significant deal, possibly in the range of four years and $52MM.  A lockdown bullpen has been such an important part of recent Yankees history that I can see the Bombers re-signing Robertson and re-teaming he and Betances to create a lot of seven-inning games.

With or without Robertson, expect the Yankees to pursue a veteran lefty reliever to fill the hole left by Matt Thornton, who was let go on waivers last summer.  Andrew Miller stands out as the best left-handed option (and one of the best relievers in general) available in free agency, and he could serve as Betances’ setup man.  The Yankees could take a page from the Royals’ book by signing Miller AND re-signing Robertson, sandwiching them around Betances to create a terrifying late-game relief trio.

David Huff, David Phelps, Shawn Kelley and Esmil Rogers are all eligible for arbitration this winter and since all pitched well in 2014 (at least peripheral-wise in Kelley and Rogers’ cases), expect all four to be tendered contracts and brought back into the bullpen mix.  The Yankees could also exercise their inexpensive team option on Andrew Bailey for 2015, though since hasn’t pitched at all since undergoing shoulder surgery in July 2013, Bailey is just a lottery ticket at this point.

The rumor mill inevitably connects the Yankees to virtually every top free agent during the offseason, both because agents like to raise their clients’ asking prices by claiming the league’s big spenders are interested and because the Yankees usually do cast a wide net.  Throwing more money at free agents might leave the club with even more albatross contracts, however, and even the Yankees have a spending limit.  It’s more likely the Yankees will look to fill their roster holes through trades rather than free agency, though expect them to explore all options lest the playoff drought extend to three years.